The Pension Benefit Guaranty Corporation (PBGC) intends to make an award to JP Morgan Chase Bank 1776 I Street NW, Suite 800 Washington DC 20006. The company will continue to provide Premium Lockbox service. PBGC is in the process of converting to Premium Practitioner System (PPS). Switching to a new lockbox contractor after having worked with the JP Morgan Chase lockbox contractor through system development and conversion would cause a disruption and potentially impact the quality of data being converted into PPS.
JP Morgan Chase Bank was working closely with the system developer in testing the transmission of daily bank statement date. The current contract is due to expire 9/30/2008 shortly before PBGC's peak premium filing season which begins 10/15/2008. During that time PBGC expects to receive approximately 15,000 premium filings. A change in the premium lockbox bank contractor would result in a change in the premium lockbox address and will confuse our customers (practitioners) before our peak filing month of October 2008. Our current lockbox address is listed on the PBGC web site and was included in our premium instruction booklets which were mailed out to our practitioners. A change in the lockbox Contractor at fiscal year end will also cause potentially a delay in processing peak season filings and payments in October 2008 as we attempt to integrate the existing data capture process with the new bank's lockbox process. PBGC has an automated wire transfer process that has been custom programmed to work with JP Morgan Chase's system.
An interested party may e-mail a written capability statement with sufficient experience for these required services, which shall not exceed 3 pages in length. Capability statements must be e-mailed to [email protected] and received no later than 3:00 PM EDT on September 16, 2008.